A partnership is an unincorporated association of two or more individuals to carry on a business for profit. Many small businesses, including retail, service, and professional practitioners, are organized as partnerships.
A partnership agreement may be oral or written. However, to avoid misunderstandings, the partnership agreement should be in writing. The agreement should identify the partners; their respective business‐related duties and responsibilities; how income will be shared; the criteria for additional investments and withdrawals; and the guidelines for adding partners, the withdrawal of a partner, and liquidation of the partnership. For income tax purposes, the partnership files an information return only. Each partner shares in the net income or loss of the partnership and includes this amount on his/her own tax return.
Answer:The most common defense of monarchical absolutism, known as “the divine right of kings” theory, asserted that kings derived their authority from God. This view could justify even tyrannical rule as divinely ordained punishment, administered by rulers, for human sinfulness.
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Sign and pass the bill—the bill becomes a law. ... If two-thirds of the Representatives and Senators support the bill, the President's veto is overridden and the bill becomes a law. Do nothing (pocket veto)—if Congress is in session, the bill automatically becomes law after 10 days
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fighting for economic freedom
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